Lorito Holdings S.a.r.l. and Zebra Holdings & Investments S.a.r.l.: Corporate Update

LUXEMBOURG, LUXEMBOURG--(Marketwire - Feb. 18, 2011) - Lorito Holdings S.a.r.l. ("Lorito") and Zebra Holdings & Investments S.a.r.l. ("Zebra") announce that on February 11, 2011 they received 6,126,623 common shares and 4,904,400 common shares, respectively, for an aggregate of 11,031,023 common shares of Lucara Diamond Corp. (the "Company"), pursuant to a private placement transaction. Each private placement share was issued at a price of $1.00.

Lorito and Zebra owned an aggregate of 39,968,977 common shares of the Company or approximately 13.21% of the Company's previous issued and outstanding share capital. The two entities now own 51,000,000 common shares or approximately 14.07% of the Company's current issued and outstanding share capital. Lorito and Zebra each relied upon the accredited investor exemption provided for in section 2.3 of National Instrument 45-106 in connection with the issuance of the common shares.

Lorito and Zebra have acquired securities in the Company for investment purposes only and may, in the ordinary course of their business, acquire additional securities of the Company depending on market and other conditions.